LegalZoom.com (NASDAQ:LZ) Price Target Raised to $8.50

LegalZoom.com (NASDAQ:LZ) had its price target lifted by stock analysts at Citigroup from $7.00 to $8.50 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 7.87% from the company’s previous close.

A number of other brokerages have also commented on LZ. Barclays upped their price target on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Jefferies Financial Group raised shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reissued an “underweight” rating and set a $8.00 target price on shares of LegalZoom.com in a research report on Friday, November 8th. Finally, William Blair assumed coverage on LegalZoom.com in a research note on Monday, September 16th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.75.

LegalZoom.com Trading Down 0.4 %

NASDAQ LZ traded down $0.03 during trading on Tuesday, hitting $7.88. 10,751 shares of the company traded hands, compared to its average volume of 1,569,387. LegalZoom.com has a 12 month low of $5.33 and a 12 month high of $13.74. The business has a fifty day simple moving average of $7.14 and a 200 day simple moving average of $7.29. The company has a market capitalization of $1.36 billion, a P/E ratio of 60.62, a PEG ratio of 1.75 and a beta of 1.06.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $168.60 million for the quarter, compared to the consensus estimate of $167.66 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. Equities research analysts predict that LegalZoom.com will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in LegalZoom.com by 7.3% in the first quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock worth $225,918,000 after purchasing an additional 1,158,252 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in LegalZoom.com by 15.8% in the second quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock valued at $46,827,000 after buying an additional 762,612 shares during the period. Renaissance Technologies LLC lifted its holdings in LegalZoom.com by 26.8% in the second quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock valued at $20,698,000 after buying an additional 521,200 shares during the period. Coastal Bridge Advisors LLC boosted its stake in LegalZoom.com by 10.2% in the second quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock valued at $16,751,000 after acquiring an additional 184,696 shares during the last quarter. Finally, Tabor Asset Management LP grew its holdings in LegalZoom.com by 44.9% during the 3rd quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock worth $9,669,000 after acquiring an additional 472,002 shares during the period. Institutional investors own 81.99% of the company’s stock.

About LegalZoom.com

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company’s platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.